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Banking and Finance

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Toyota Financial Services to close C.R. customer service center that employs 600

Cedar Rapids Gazette: Toyota Financial Services will close its Cedar Rapids customer service center that employs 600 people within the next two years, a spokesman said. Toyota will consolidate its customer service centers from six to …

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Chubb makes unsolicited bid for Hartford Financial

Hartford Financial announced it received an unsolicited, nonbinding proposal to be acquired by Chubb Ltd., AM Best reported. In a statement, Hartford said its board of directors is carefully considering the proposal with the assistance of its …

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Iowa Bankers Association names Student Athlete Achievement Award winners

Four Iowa high school seniors received a 2021 Iowa Bankers Association Student Athlete Achievement Award during the Iowa high school boys’ state basketball tournament last week in Des Moines. One student from each class received …

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CPA group says IRS filing and payment extension doesn’t go far enough

The one-month extension of the federal income tax filing and payment deadline for some taxpayers does not go far enough to help small business owners who most need the relief, says the American Institute of …

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Lincoln Savings Bank tops list of most active IFA lenders in Iowa

Lincoln Savings Bank was the top mortgage lender in the state through Iowa Finance Authority loan programs, according to the 2020 IFA Top Lender list released by the agency. The awards were given to the lending institutions …

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Labor Department holds off on enforcement of ESG rules for 401(k) plans

The U.S. Department of Labor said Wednesday it won’t be enforcing a Trump-era rule that makes it tougher for 401(k) plans to invest in socially minded funds, the Wall Street Journal reported. The agency is reviewing a …

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Labor Department holds off on enforcement of ESG rules for 401(k) plans

The U.S. Department of Labor said Wednesday it won’t be enforcing a Trump-era rule that makes it tougher for 401(k) plans to invest in socially minded funds, the Wall Street Journal reported. The agency is reviewing a …

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Iowans urged to wait to file taxes as unemployment rules shift

Des Moines Register: With Congress passing a COVID-19 relief package Wednesday that includes tax forgiveness for unemployment benefits — and with the Iowa Legislature debating a similar proposal — Iowa accountants are telling clients to pause …

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Treasury announces $9B available for Emergency Capital Investment Program

The U.S. Treasury announced that it is opening the application process for the Emergency Capital Investment Program, a new initiative designed to support access to capital in communities traditionally excluded from the financial system and that have …

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Iowa banks’ loans and deposits up in 2020, but net income dips

Loan volume at Iowa-chartered banks increased by 5.8% in 2020 over 2019, according to the latest data filed with the Federal Deposit Insurance Corp. Iowa banks recorded nearly $68.1 billion in active loans on their…
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